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ESAF Small Finance Bank reported a loss of ₹190 Crore for the quarter and half-year ending September 30, 2024, primarily due to increased provisions for stressed assets. Net Interest Income (NII) fell to ₹540 Crore, down from ₹597 Crore in the same period last year, maintaining a Net Interest Margin (NIM) of 8.6%. Despite the loss, the bank saw impressive growth in secured assets and CASA deposits, with secured loan disbursements rising 92% YoY to ₹5,631 Crore and CASA deposits increasing by 69.3% YoY to ₹5,319 Crore, significantly improving the CASA ratio to 24.6%.
The bank's Capital Adequacy Ratio (CRAR) remains strong above 23%, with a Net Non-Performing Asset (NNPA) ratio improving to 2.98%. ESAF continues to expand its distribution, adding 5.68 lakh new customers, bringing the total to 89.41 lakh. The focus on enhancing asset quality, responsible lending practices, and technological advancements positions the bank for future growth despite current challenges. Investors should watch closely for improvements in profitability and customer base growth in the upcoming quarters.